New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-10-13
PASSING THE DIVIDEND.
DEPRECIATION OF TIE CoMPANY's sroCK-BALrI
MORE FINANCES AND JOHNS HOPKINS UNIvER

DEPRECIATION OF TIE COMPANY's sroCK-BALrI.
MORE FINANCES AND JOHNS HOPKINS UNIyEa-
sIrY AFFECTED.
BALTIMORE. Oct IL tSDecdh.-When it was announced
on Change that Baltimore and Ohio has passed the
dividend which so many years has regularly de-
cned .emiannually there some excitement. Tho
downward movement at began, but where IL will
end the wisest banker In south-st will not venture to
say The stock rated at ll0 when the anHounrs-
ment came II dropped TO lOs Al the second boardi it
closed lOj bid 10 asked Ten shares sold after ie
board ut lO5. :. Fahnestock aud otner prominent
banker. pre- ct that In short tine the stock VIII 20 10
par some OF the say that the syndicate vil
support the stock sufficiently TO prevent panic.
IL also stated that It would probably %
several years before dividend would bs declared. The
city finances will be seriously affected. Mayor Hodges
says the passage OF tho semannual dividend to-day by
the Board OF Directors OF the Baltimore and Onlo Rail
road Company makes certain that there Will be hoat
ing debt Of Sl3OOOO which the City Council mast pro-
before the expiration OF the present fiscal ye.r,
all the appropriations having been made upon the sap
position that amount would be received Dy the c,ty
as dividend It's holding OF Baltimore and ONO
stock.
"It also means." the Mayor continued, that there
will be An In the rate OF certainly 62 cess
the sloo and If dividend shall be passed oi doaos
But the Johns Hopkins University has received .
harder blow II anything. than the city. Lewis " hop
kus secretary OF the trustees SAYS:
The Johss Hopkins investment in the Baltimore and
Ohio railroad has heretofore produced an income OF
Sl2O 900 annually. than nalt Of the unversitIs
income OF S225.O0O The development OF the university
may I've curaled. but Its operations WIZ hot DC Srppe
or $500 which the trustees conclude TO fa Dack
Mr. Hopkins asked II the passing OF tho dividend
would have any effect the opening OF the johns Hop
kus hospital. He said II would not as the iuhds from
vhcb Inc hospital TO derive its support are en-
rey separate and Invested IN bank stock ana rsAi
estate The general among tae hsr n
Ohio have decided 10 declare dividend unti AZ east
year and that the next 'emtannua dividend VIII also
In the course year the sleeping appendase will
also be Topped or and with the railroad perfectly free
is hoped that will be able soon to realize Tor the stock
holders.
THIRTY. ONE YEARS UNDER THE GARRETTs.
BALTIMORE Oct IL (SpeciaD. Robert Garrett was 40
the Mary and Club this afternoon aud seemed happier
than ever The CARROTS connection with the road has
lasted thirty years The grandfather OF tho
present head of the family. who was named after him.
was An Ir.hman who mmgrated TO Baltimore early In
the century. lie OF great energy and ability
and though poor soon became power In his adopted
city aud established the banking house OF Robert Garrett
and Sons which Is still IN existence The hrm consisted
OF the father and his two John W. Garrett VINO
was born In 1920. and Heury 8. Garrett John W. Gar
ret established the great standing Of the house. c was
graduated from Lafaye College when nineteen years
OF age and entered at into his fathers banking
house. The business finally dsvolved upon the sons
and John W. became the senior, associang VII"
him in the business his sons Robert and T. Harrison
the firm name Of the house. however, remaining
UNCHANGED. With his increase OF wealth M oarre'' n
u.rssted In real estate and closely dentnsd Win
hu,.ss interests and 1856 he turned bis attention
"a the management Of the Baltimore and Ohio kAiroaa'
wh,ch vas then in struggling condition. There were
Of INTEREST: II y. n: r. ssSs cis:spesss
and Ohio Ca. sSd h:4 s'v:s v:,. San SpuSno
"a IA visWs 81 70 the wants Of the cerporaoon ~ Z
tSsy 81 should s. supplied at stesshssdsss nssu.t